$0.69 EPS Expected for Blackstone Group LP (BX) This Quarter

Wall Street brokerages predict that Blackstone Group LP (NYSE:BX) will announce $0.69 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Blackstone Group’s earnings, with estimates ranging from $0.55 to $0.85. Blackstone Group posted earnings of $0.71 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 2.8%. The business is expected to announce its next quarterly earnings results on Thursday, February 7th.

According to Zacks, analysts expect that Blackstone Group will report full year earnings of $2.87 per share for the current year, with EPS estimates ranging from $2.37 to $3.08. For the next year, analysts expect that the firm will report earnings of $3.12 per share, with EPS estimates ranging from $2.19 to $3.45. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Blackstone Group.

Blackstone Group (NYSE:BX) last issued its earnings results on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. Blackstone Group had a return on equity of 22.99% and a net margin of 22.34%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis.

A number of analysts have recently issued reports on the company. Bank of America boosted their target price on Blackstone Group from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, September 24th. Argus boosted their target price on Blackstone Group from $39.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. ValuEngine upgraded Blackstone Group from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Citigroup boosted their target price on Blackstone Group from $43.00 to $47.50 and gave the stock a “buy” rating in a report on Monday, September 24th. Finally, JMP Securities upped their price target on Blackstone Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $43.45.

In other Blackstone Group news, Vice Chairman J Tomilson Hill sold 674,257 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $36.48, for a total value of $24,596,895.36. Following the completion of the transaction, the insider now owns 928,884 shares in the company, valued at approximately $33,885,688.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its position in shares of Blackstone Group by 60.7% in the 3rd quarter. Bank of Montreal Can now owns 8,904,588 shares of the asset manager’s stock valued at $339,088,000 after purchasing an additional 3,362,373 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Blackstone Group by 2.9% in the 2nd quarter. Janus Henderson Group PLC now owns 8,293,368 shares of the asset manager’s stock valued at $266,801,000 after purchasing an additional 232,747 shares in the last quarter. Swedbank raised its position in shares of Blackstone Group by 12.2% in the 3rd quarter. Swedbank now owns 5,501,485 shares of the asset manager’s stock valued at $209,497,000 after purchasing an additional 600,000 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of Blackstone Group by 24.4% in the 3rd quarter. Artemis Investment Management LLP now owns 3,726,117 shares of the asset manager’s stock valued at $141,945,000 after purchasing an additional 731,785 shares in the last quarter. Finally, Beck Mack & Oliver LLC raised its position in shares of Blackstone Group by 1.1% in the 2nd quarter. Beck Mack & Oliver LLC now owns 3,432,778 shares of the asset manager’s stock valued at $110,432,000 after purchasing an additional 36,924 shares in the last quarter. Hedge funds and other institutional investors own 48.75% of the company’s stock.

Shares of NYSE:BX traded down $1.36 during trading on Friday, reaching $33.99. 4,859,368 shares of the stock were exchanged, compared to its average volume of 4,662,027. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 0.97. Blackstone Group has a 12-month low of $29.57 and a 12-month high of $40.60. The stock has a market capitalization of $22.87 billion, a P/E ratio of 12.10, a PEG ratio of 1.15 and a beta of 1.39.

The business also recently declared a quarterly dividend, which was paid on Monday, November 5th. Shareholders of record on Monday, October 29th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 7.53%. The ex-dividend date was Friday, October 26th. This is a boost from Blackstone Group’s previous quarterly dividend of $0.58. Blackstone Group’s dividend payout ratio is currently 91.10%.

About Blackstone Group

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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